Clearlake joins Insight with equal stake in Appriss Holdings

Clearlake Capital Group recently acquired half of data-analytics provider Appriss Holdings, taking an equal stake alongside Insight Partners.

The company, which estimates $70 million of Ebitda for 2019, plans to grow organically and through add-ons across its key verticals: healthcare, public safety and retail, sources familiar with the deal told Buyouts.

Appriss provides data and analysis globally to government, law enforcement and enterprise clients to help with public safety, fraud prevention and substance abuse.

The Appriss database, for instance, enables pharmacies to run customers’ prescriptions against a national database to check if those customers are filling multiple opioid prescriptions at multiple pharmacies.

Clearlake invested in Appriss on April 9 out of Clearlake Opportunities Partners fund, which closed on $550 million in 2015, and Clearlake Capital Partners Fund V, which closed on more than $3.6 billion in March 2018.

The deal is expected to close by the end of Q2.

Insight Partners invested in Appriss in 2014 along with the company’s management.

Golub Capital, Antares Capital and Bain Capital Credit provided financing for the transaction.

William Blair and Jefferies served as co-financial advisers to Appriss and Insight. Macquarie Capital and UBS Investment Bank served as financial advisers to Clearlake.

Action Item: Contact Appriss at inquiries@appriss.com.